After reading the Introduction, Overview, and Instructor Notes as well as the assigned chapter(s) in the Nagle, et. al. textbook, please answer the following:

Describe the price setting process, in the context of pricing strategy, inclusive of the balance among costs, end user or customer value and competition.

How does a particular product's life cycle affect this price setting process?

Briefly explain one topic or issue from this weeks material that may benefit you personally or professionally. Please include some general examples.